Varian Medical Systems Announces Repurchase of Additional 12M Shares

Varian Medical Systems, Inc. VAR today announced that its Board of Directors has authorized the company to repurchase an additional 12 million shares of its common stock through the end of its fiscal year 2012. Stock repurchases may be made in the open market, in privately negotiated transactions, or in Rule 10b5-1 share repurchase plans, and may be made from time to time or in one or more larger blocks. These repurchases are in addition to the approximately 4.5 million shares remaining under an 8 million share repurchase authorization that expires at the end of the company's fiscal year 2011.